Indore ranked 8th in real estate survey

INDORE: Commercial capital of the state — Indore has been placed 8th in real-estate market in terms of highest sales, price, supply, absorption, inventory and new launch trends.

Covering over 65,000 projects of 16,000 developers across 42 cities in India PropEquity, an online subscription based real estate data and analytics platform for tier II cities, released a list of top tier-II cities in which Indore was ranked 8th.

Ten key parameters have been taken into account to generate the rankings. Samir Jasuja, founder, PropEquity, said, "Real estate sector is witnessing a downturn as compared to previous years. Still, condition of tier-II cities are better than tier-I cities."

Study also looked at execution delays and size of the market in value terms. Interestingly the 19 Tier-II cities (consolidated) have a total market size in terms of annual primary sales of Rs 326 billion annually, which is lesser than the market sizes of Bengaluru at Rs 361 billion and Mumbai at Rs 341 billion.

As per survey new residential supply in the top 19 tier-II cities has fallen by 64% in the last two years, as against a fall of 40% in top 14 tier-I cities, in the same period. "Right now the prices of real estate projects are stagnant for the past more than one year. Madhya Pradesh is working on low margin and as compared to metro cities and real estate projects in state are comparatively cheaper. Buying capacity of the consumers has increased and with the newer projects coming in and there has been a comparative increase," said Sandeep Shrivastava, president, CREDAI (Confederation of real estate developers association of India) Madhya Pradesh.

In the survey, Kochi has been ranked number 1 followed by Nashik, Vishakapatnam, Vadodara, Trivandrum, Jaipur, Mangalore, Indore, Goa and Coimbatore.

NEW DELHI: The central government is working on putting in place a single window time-bound clearance system for layout approvals and building permissions by the beginning of next year, housing and urban development minister M Venkaiah Naidu said.

BENGALURU: More than 50 real estate agents and brokers on Tuesday morning attacked the headquarters of NoBroker, a home rental startup, at HSR Layout in southeast Bengaluru. They picketed the online house-hunting marketplace and shouted slogans, saying the company was ruining their livelihood.

Rapid urbanisation is setting the pace of the Indian construction industry and, by extension, the construction chemicals market. The government’s ambitious ‘Housing for All’ and ‘100 Smart Cities’ programs are key growth drivers for the construction chemicals sector.

NEW DELHI: The real estate market in India has matured after the slowdown and investors now have a more realistic view about returns these days, says Robert Marten, managing director, Global Real Estate Institute (GRI), a global club of senior real estate investors, developers and lenders.

NEW DELHI: Unauthorized harnessing of groundwater for construction purposes has caught the National Green Tribunal's attention which has issued notice to 14 builders in Delhi-NCR for extracting water flouting rules.

MUMBAI: Three persons from Delhi and Pune were arrested on Thursday for forging digital signatures and presenting themselves as a company's directors on the Ministry of Corporate Affairs (MCA) website. The signatory details of the directors were suddenly changed in March and three new persons were fraudulently shown as directors.